On Friday, President Bush announced a plan that would open up FHA insurance to about 80,000 people in the hopes that the move would ease the subprime lending crisis by forestalling foreclosure for thousands of Americans. USA Today reports on the requirements of qualification for this new plan:

"To qualify for the new benefit, homeowners would have to prove they paid their loan on time before it reset to a higher rate and must have at least 3% equity in the home," [Nicole] Knox writes. "The program, which doesn’t need congressional approval, should take effect early next year."